Business
Cerus Corporation Announces Third Quarter 2024 Financial Results
Third Quarter and First Nine-Month Product Revenue Increased 16% and 18%, respectively from Prior Year Periods Raising Full-Year 2024 Total Product Revenue
About this update from Cerus Corporation
[{"type":"text","content":"\nThird Quarter and First Nine-Month Product Revenue Increased 16% and 18%, respectively from Prior Year Periods\n\nRaising Full-Year 2024 Total Product Revenue Guidance to the Range of $177 million to $179 million and INTERCEPT Fibrinogen Complex Revenue Guidance to a range of $9 to $10 million\n\n CONCORD, Calif.--(BUSINESS WIRE)--\nCerus Corporation (Nasdaq: CERS) today announced financial results for its third quarter and nine months ended September 30, 2024.\n\nTotal revenue for the three and nine months ended September 30, 2024 was comprised of (in thousands, except %):\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n\n \n\n\n\nNine Months Ended\n\n\n\n\n\n\n\n\n\n\nSeptember 30,\n\n\n\n\nChange\n\n\n\n \n\n\n\nSeptember 30,\n\n\n\n\nChange\n\n\n\n\n\n\n2024\n\n\n\n \n\n\n\n2023\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n%\n\n\n\n\n2024\n\n\n\n \n\n\n\n2023\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n%\n\n\n\n\n\nProduct Revenue\n\n\n\n$\n\n\n\n46,017\n\n\n\n\n\n$\n\n\n\n39,772\n\n\n\n\n\n$\n\n\n\n6,245\n\n\n\n \n\n\n\n\n16\n\n\n\n%\n\n\n\n\n$\n\n\n\n129,461\n\n\n\n\n\n$\n\n\n\n109,599\n\n\n\n\n\n$\n\n\n\n19,862\n\n\n\n \n\n\n\n\n18\n\n\n\n%\n\n\n\n\n\nGovernment Contract Revenue\n\n\n\n \n\n\n\n4,639\n\n\n\n \n\n\n\n\n \n\n\n\n7,479\n\n\n\n \n\n\n\n\n \n\n\n\n(2,840\n\n\n\n)\n\n\n\n\n-38\n\n\n\n%\n\n\n\n\n \n\n\n\n15,109\n\n\n\n \n\n\n\n\n \n\n\n\n23,856\n\n\n\n \n\n\n\n\n \n\n\n\n(8,747\n\n\n\n)\n\n\n\n\n-37\n\n\n\n%\n\n\n\n\n\nTotal Revenue\n\n\n\n$\n\n\n\n50,656\n\n\n\n \n\n\n\n\n$\n\n\n\n47,251\n\n\n\n \n\n\n\n\n$\n\n\n\n3,405\n\n\n\n \n\n\n\n\n7\n\n\n\n%\n\n\n\n\n$\n\n\n\n144,570\n\n\n\n \n\n\n\n\n$\n\n\n\n133,455\n\n\n\n \n\n\n\n\n$\n\n\n\n11,115\n\n\n\n \n\n\n\n\n8\n\n\n\n%\n\n\n\n\nRecent highlights include:\n\n\nPartnered with U.S. Biomedical Advanced Research and Development Authority (BARDA) for new, six-year contract with value up to $248 million designed to support advancement of INTERCEPT® Blood System for Red Blood Cells (RBCs) beyond U.S. Phase 3 studies through potential PMA licensure and into commercialization.\n\n\nCE Mark review for INTERCEPT RBCs concluded without approval; assessing strategy for potential future regulatory submission in collaboration with Notified Body, TÜV-SÜD.\n\n\nFurther expanded U.S. manufacturing capacity for INTERCEPT Fibrinogen Complex (IFC) following receipt of three additional biologics license appl...